Tag Archives: economy

In fulfillment of the constitutional requirement under Article101 (1) of the Constitution of the Republic of Uganda,  President Yoweri Museveni on Tuesday delivered the State of the Nation Address, 2017. The president mainly gave accountability on particular government commitments and  appraised the country of the plans and strategies for the …

Johannesburg, South Africa | AFP | South Africa’s economy unexpectedly contracted in the first quarter of this year, pushing the continent’s most advanced economy into its first recession since 2009, according to official statistics released Tuesday. The data, which also showed unemployment hitting a 14-year high, are expected to pile more …

Kampala, Uganda| CSBAG|  Every time a government official comes out to explain why the economy is poorly performing, they cite external and natural factors. These range from slow growth in China, to fall in commodity prices, tight financing conditions in Europe, and geo-political events such as Brexit and U.S politics. …

Pretoria, South Africa| Jakkie CILLIERS | ISS TODAY|  As part of the ‘Africa rising’ narrative, much has been made of the continent’s growth story. The global recession of 2007/8 hit Africa hard, but it remained remarkably resilient, with growth forecast to 2030 at around 1.3% faster than average growth rates …

Washington, United States | AFP | The World Bank is keeping its forecast for global growth in 2017 unchanged, because for the first time in years, no new risks have arisen to threaten the outlook. “Over the past four years this is the first time we didn’t have a downgrade …

  Budget provided biggest share of Sh4.6 trillion to the works and transport sector representing 21%. The Sh29 trillion national budget approved by Uganda’s Parliament on Wednesday provides its biggest share to the works and transport sector  with an allocation of sh4.6 trillion representing 21%. While presenting the financial year …

Uganda’s Parliament has passed a Sh29 trillion budget for fiscal year 2017-18 on deadline day Wednesday despite stiff opposition to the amount of loans. Parliament only moved to consider the Appropriation Bill,2017 which is the final stage of the budget process, after the Deputy Speaker suspended The House for 15 minutes …

Lagos, Nigeria | AFP |  It’s only when the thick smog of humidity and pollution lifts that the size of Lagos becomes clear: from above, the megacity of some 20 million people seems to stretch out to infinity. Not even the Atlantic Ocean appears to be able to stop its …

Cairo, Egypt | AFP |  Ramadan is a time for daytime fasting and lavish evening feasts, but Egyptians are scaling back preparations for the Muslim holy month this year after austerity measures fuelled decades-high inflation. At a Cairo supermarket, Rana, a web designer and mother of two, said she was …

Abu Dhabi, United Arab Emirates | AFP |  The renewable energy sector employed 9.8 million people worldwide in 2016, marking a sharp increase from 2012, the Abu Dhabi-based International Renewable Energy Agency said on Wednesday. In its “Renewable Energy and Jobs – Annual Review 2017”, IRENA says the sector employed …